Opportunity or Necessity? Exploring the motivations of nascent and early-stage entrepreneurs over the age of 50

In this paper, we consider the extent to which nascent and early-stage entrepreneurial activity among those over the age of 50 is selected as an employment path through opportunity rather than out of necessity. We choose 50 as... [ view full abstract ]

In this paper, we consider the extent to which nascent and early-stage entrepreneurial activity among those over the age of 50 is selected as an employment path through opportunity rather than out of necessity. We choose 50 as our age marker given that, in the Irish context at least, a worker is considered as “older” at this age (McCarthy et al., 2014). Drawing on Irish data from the Global Entrepreneurship Monitor (GEM) survey we set out to explore: (1) the prevalence of nascent and early-stage entrepreneurship among those over the age of 50, and (2) the motivations to start a new business among this group. In doing so, we contribute to the discussion at policy level on extending working life and promoting financial independence as the population ages. Further, we contribute to the burgeoning literature which calls for empirical research to explore why older adults decide to pursue self-employment in later life.